Chamber welcomes 12.5% tax rate & measures announced in Budget 2017

  • Release Date: 11/10/2016
The American Chamber strongly welcomed the commitment in Budget 2017 to investment and employment with a package of measures aimed at sustaining investor confidence and protecting against risks to the economy arising from Brexit uncertainty.
 
The American Chamber welcomed the Minister’s restatement that Ireland’s corporation tax rate will remain at 12.5%,  a cornerstone of Ireland's enterprise policy for many years and partly responsible for attracting over 700 US companies creating 140,000 jobs here. 
 
The American Chamber believes Budget 2017 ensures that Ireland will continue to be highly regarded internationally as a transparent, competitive and fair country in which to do business and the publication of an updated International Tax Strategy and continued investment in the Revenue Authority is warmly welcome.
 
Additionally, the Chamber welcomes moves to help attract top talent into Ireland to work and live here with the extension of the Special Assignee Relief Programme and broader moves to improve the competitiveness of Ireland’s income tax regime in the battle to retain scarce specialised skilled and leadership talent. Furthermore, having a well-functioning rental sector plays a vital role in enabling labour force mobility into and within the country. Thus measures seeking to bring supply into the market as soon as possible are particularly welcome.
 
President of The American Chamber of Commerce Ireland Bob Savage said:
 
“Our priority is that Ireland remains a unique transatlantic trade and investment gateway and a location of choice for US inward investment to Europe. It is crucial to fulfilling this ambition, that we retain our ability to attract talented people to Ireland, encourage those abroad to come back to develop their careers here and ensure that working in Ireland is a rewarding proposition to attract needed skills and leadership ability. We welcome Budget 2017 in that context.
 
These are uncertain times not least with regard to forthcoming Brexit negotiations. We welcome the efforts to mitigate these risks by Government Departments and in key agencies such as Enterprise Ireland and IDA. We welcome budget measures that ensure Ireland continues to be regarded internationally as competitive, and a certain tax policy which is a vital part of Ireland’s Foreign Direct Investment (FDI) offering.”